Amazon's Big Deal Days Boosts Sales Despite Consumer Spending Challenges, Analyst Says
Portfolio Pulse from Anusuya Lahiri
Amazon's Prime Big Deal Days event saw a significant increase in sales and daily active users (DAUs) compared to last year, despite consumer spending challenges. Analyst Nicholas Jones from JMP Securities reiterated Amazon with a Market Outperform and a $175 price target. The event also saw over 150 million items sold from third-party sellers, which could boost Amazon's 4Q margins. Peloton also saw an increase in purchases on Amazon during the event. However, Jones does not view the event as a significant incremental benefit to Amazon's revenue.
October 16, 2023 | 5:09 pm
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Walmart ran an overlapping holiday kickoff sale during Amazon's Prime Big Deal Days event.
Walmart running an overlapping holiday kickoff sale during Amazon's Prime Big Deal Days event could have affected its sales, but the impact on its stock price is unclear.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 30
POSITIVE IMPACT
Amazon's Prime Big Deal Days event saw a significant increase in sales and DAUs, which could boost its 4Q margins. However, the event is not seen as a significant incremental benefit to Amazon's revenue.
The increase in sales and DAUs during Amazon's Prime Big Deal Days event could boost its 4Q margins. However, the event is not seen as a significant incremental benefit to Amazon's revenue, which could limit its impact on Amazon's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Peloton saw an increase in purchases on Amazon during the Prime Big Deal Days event.
The increase in purchases of Peloton products on Amazon during the Prime Big Deal Days event could boost Peloton's sales and potentially its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50